The Printing Press 🖨️

🎊 ^{January Edition} 🎊

Gustavo and Adam, here. We wanted to wish you a Happy New Year! We hope 2024 brings you lots of success and achievement.

Thank you for being a part of our community in 2023! We have so much in store for 2024 and can’t wait for you to be a part of it.

Upcoming Events 🥂

1/10/24 - Yotpo On The Road - Chicago

• Join Yotpo Partners in Chicago for an insightful half-day event featuring top eCommerce marketing experts, where you'll discover Yotpo's latest innovations, product roadmap, and success stories, and have the opportunity to network with industry leaders and peers 📈

• Happy Hour with Food and Drink to follow! 🥂

• Sign up here!

1/16/24 - Windy City Troublemakers

• The "Better Late than Never" Holiday Soiree at Vosges Chocolate offers a relaxed evening with CPG Food and Beverage Makers and Investors, featuring food, drinks, and fun

• Sign up here!

What’s New 💰

We moved to New York! 🏙️ Well, kinda. We decided to pack up and spend the month of January in New York City.

What are we doing in NYC?

• NRF (National Retail Federation) is having its annual show January 14-16. We are excited to attend and meet founders, investors, and other industry leaders.

• Learn from the NYC CPG scene. New York is arguably the CPG capital of the world. We plan to attend a bunch of events, meet-ups, etc, and learn how the CPG community functions here. We can bring these learnings back to Chicago and implement them.

CPG in Chicago 🌃

• Chicago's retail vacancy is projected to drop to 5.6% in Q4, the lowest in over 20 years 👍

• McDonald's is testing CosMc’s, a new small-format, beverage-focused concept in Bolingbrook, Illinois, offering bold drinks, select foods, and a seamless digital experience, with plans to expand to around 10 locations by the end of 2024 🍟

Have exciting news about your company you want to share? Submit it here!

CPG around the Globe 🌎

• Chobani has acquired La Colombe, a Philadelphia-based coffee chain, for $900 million. This may be signaling a potential revival of its IPO plans and aiming to boost its cafe and coffee-related products segment while maintaining La Colombe's independent brand identity ☕

  

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• Springdale Ventures, an Austin-based venture firm co-founded by Daniel Graham and Genevieve Gilbreath, raised $40M for Fund II, focusing on early-stage consumer brands. Their investments span various sectors, including food, beverages, health & wellness, and unique niches like alcohol brands and innovative startups like Eterneva, with typical investments ranging from $250K to $2M 💰

• Kansas City Chiefs quarterback Patrick Mahomes has partnered with Prime, a beverage brand co-founded by Logan Paul and KSI, to engage in social media, events, and charitable activities, including a $100,000 donation to his charity, enhancing Prime's global presence alongside other high-profile sports partnerships 🏈

Trend Spotlight 🔦

The practice of "Dry January" has been gaining increasing popularity, reflecting a broader shift in consumer habits towards health and wellness. This trend is particularly pronounced among younger demographics who are increasingly health-conscious and mindful of their alcohol consumption. The impact of Dry January and the growing preference for non-alcoholic beverages is evident in sales data. According to NielsenIQ, sales of nonalcoholic beverages saw a substantial increase of over 30% in a year₁. This surge is not just a temporary January phenomenon but represents a more permanent shift in consumer behavior, with many individuals choosing to drink less or give up alcohol altogether.

Despite the popularity of Dry January, there remains a significant opportunity for growth in the non-alcoholic beverage market. Companies are preparing for this shift by providing resources and knowledge to retailers and bars to tap into this new sales opportunity.

SYSTEM™ Seltzers, co-founded by Anthony Spina and Matt Sievers, is a Chicago-based innovative beverage brand that offers the First Inclusive Drinking System™. The idea emerged from the founders' observation of the merging alcoholic and non-alcoholic beverage categories, aiming to create an inclusive drinking experience enhanced with electrolytes, perfect for any lifestyle or social setting.

Ghia is a company founded by Mélanie Masarin, inspired by Mediterranean Aperitivo culture and her childhood experiences. It offers a non-alcoholic apéritif designed to enhance social connections and enjoyment of life's simple pleasures without alcohol. Ghia emphasizes relaxation, joy, and creating memorable moments, embodying a modern approach to traditional social drinking experiences.

In conclusion, Dry January and the rise of non-alcoholic beverages signify a notable shift in consumer preferences, driven by a focus on health and wellness. The market for non-alcoholic beverages is expected to continue growing, influenced by health considerations and lifestyle choices of consumers, especially the younger generations.

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